This website is for Private Investors* only

*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

Obtains access to the information in a personal capacity;

Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;

Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;

Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;

Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;

Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.

Economy

Market Report

Companies

Currencies

Weekly review

Paragon Banking Group said on Friday that it has appointed senior independent director Fiona Clutterbuck as its new chairman with effect from 10 May, succeeding Bob Dench.

BBA Aviation said its trading performance in the first quarter of 2018 remained in line with expectations, with revenue for the period up 9.7% year-on year, adding it expected to meet full year expectations.

AstraZeneca's late-stage Galathea trial for its first respiratory biologic drug failed to meet its primary goal in treatment of chronic obstructive pulmonary disease.

Ahead of its planned £60m equity placing next week, embattled retailer Carpetright said on Friday that it has agreed a £15m unsecured loan from its biggest shareholder, Meditor.

House builder Barratt Developments said total forward sales were up 2.5% in the calendar year to May 6 to £3.3bn, adding that current trading was in line with expectations.

First quarter net sales at Coca-Cola HBC fell 1.7% mainly due to currency hits from the Russian rouble and Nigerian naira, the company said on Thursday.

Beazley posted a 10% jump in first-quarter gross written premiums on Thursday as it reiterated its full-year combined ratio guidance.

Defence group BAE Systems reiterated its expectations on Thursday for 2018 earnings to be flat on the year, as it said there were good prospects to add to its order backlog.

Security group G4S said on Wednesday that first-quarter trading was in line with the outlook it provided in March and that it expects growth to accelerate in the second half of the year after organic revenues fell 2% in the first quarter.

The loan book at OneSavings Bank grew 5% in the first quarter, the company said on Wednesday, as it reiterated its guidance for the year.

The UK's largest listed residential landlord Grainger has unconditionally agreed to fund and acquire a 132 property build-to-rent development in Southampton from National Regional Property Group for roughly £27m.

The UK's largest listed residential landlord Grainger has unconditionally agreed to fund and acquire a 132 property build-to-rent development in Southampton from National Regional Property Group for roughly £27m.

After sales from his JD Wetherspoon pub chain slowed in recent weeks, founder Tim Martin has weighed into the debate about post-Brexit customs arrangements by calling for Britain to go it alone and calling the EU a protection racket.]

Royal Dutch Shell has agreed to sell its entire stake in Canadian Natural Resources for $3.3bn.

Paragon Banking Group confirmed on Tuesday that it is in the early stages of considering a possible acquisition of residential development finance lender Titlestone.

Standard Life Aberdeen said Lloyds Banking Group did not have the right to withdraw £109bn of funds, setting up a legal dispute between the two companies.

Chilean copper miner Antofagasta said on Tuesday that it had detected and cleared a blockage at its Los Pelambres pipeline, where operation was immediately suspended.

Nestlé struck a $7.1bn deal with Starbucks to obtain all the rights to commercialize its products in supermarkets.

Air France is fell 10% on the stock market Monday after announcing Friday losses of 269 million euros during the first quarter of 2018. The company also had to face the resignation of Jean-Marc Janaillac, president of the group.

Economic news

Bank of England deputy governor Ben Broadbent on Friday denied that mixed messages were being given on interest rates after the central bank seemed to swing back to a more dovish stance.

City regulators have fined Barclays chief executive Jes Staley almost £1m over his efforts to unmask a whistleblower at the bank.

Sluggish factory output and a continuing contraction in the construction industry added to doubts about the economy as the Bank of England prepared to release its latest decision on interest rates later on Thursday.

A ‘digital transformation’ set to revolutionise the country’s railways and reduce disruption was outlined to the public on Thursday - but some City commuters would be forgiven for taking the announcement with the smallest pinch of salt.

Voters support Labour party economic policies including higher taxes for top earners and nationalising key industries, a survey for the Financial Times has found.

The British government suffered four more Brexit defeats from the upper house of parliament overnight, including a voted against leaving the European Union’s single market after the divorce date.

UK house price growth unexpectedly eased in April, according to data from lender Halifax.

Workers suffer widespread exploitation and abuse such as wage theft and slavery in 17 high risk sectors according to a report published on Tuesday by the Gangmasters and Labour Abuse Authority (GLAA).

The number of children growing up in poverty in working households in the UK has risen by 50% since 2010, with 1m more children living in these conditions than 8 years ago.

International events

Consumer sentiment in the US was steady in May, according to data released on Friday.

The historic summit between the US and North Korea will be held in Singapore, CNN reported citing people familiar with the plans.

Tensions in the Middle East heightened overnight Thursday as Israel launched air strikes against Iranian targets inside Syria in retaliation for a rocket attack on the Golan Heights it pinned on Iran.

US communications giant AT&T confirmed on Tuesday evening that it paid President Trump’s personal lawyer, Michael Cohen, for "insights into understanding the new administration".

Germany, France, China and Russia declared their committed to the Iran nuclear deal on Wednesday after the US decided to withdraw support overnight, while shares in companies such as Airbus and Peugeot fell on worries about whether business could be effected.

Italians will be asked to head back to the polling stations in summer or autumn after talks to build a government coalition failed.

Small business sentiment in the US improved a touch in April, driven by reports of improved profits, according to the latest survey from the National Federation of Independent Business.